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. >>> president obama is meeting with two different groups today. both have concerns about the fiscal cliff crisis. he will lead with the ceos of business leaders and then later, he will meet with native- american tribal leaders. the one issue where he's refusing to budge in fiscal cliff issues. >>> the voters passed prop 30, which raises taxes on people who earn more than $250,000 a year. it also increases the sales tax. well, the ucla and der son forecast says because of prop 30 -- anderson forecast says because of prop 30, unemployment will not improve as fast and personal income will be less than expected. but economists say california is still on track for economic growth and more jobs. >>> well, sheriffs in solano county want your help. they are trying to catch vandals who damaged a home known for its holiday displays. every year, bob and linda taylor transform their home in vallejo on glencove road into a christmas wonderland. but this year, someone ripped down some of their lights and dragged them in the streets and they were run over. the taylors say the lights can be fixed an santa claus
and speaker have taken no concrete steps to resolve the so-called fiscal cliff. president obama remains insistent that republicans yields to his ultimatum that he be allowed to raise taxes on those making more than $250,000 a year. republicans for their part insist that the president gets serious about cutting spending in order to reduce trillion dollar deficits and a national debt that is now mind-boggling league not -- monotonous. house minority leader disagrees vehemently with the speaker on how to reduce deficits and debt. today she offered a paradoxical statement on fiscal policy that would make both casey stiegel and yogi berra proud. the nation now just 24 days away from $600 billion of spending cuts and tax increases that will automatically kicked in. and pelosi has some wise words for washington. please listen terror. >> this is a moment of truth. the clock is ticking. christmas is coming. the goose is getting fat. in many homes across america it is very, very lean times. you cannot cut your way to deficit reduction. lou: that's right. pelosi says we cannot get our way to defic
economists. my next guest is concerned that we are going over the fiscal cliff. he says, president obama seemingly is intent on pressing his post-election advantage to win tax increases on the wealthy and to eliminate the houses debt ceiling leveraged. joining us now from washington d.c., peter wallace, former reagan white house counsel, former member of th financial crisis inquiry commission. a senior fellow at the american enterprise institute. good to have you here. you believe they're going over the cliff. >> i think their is a real danger of this. one can see a path for obaa that does not look so terrible if we do go over the cliff. all of the taxes go up, but the democrats have an opportunity to introduce legislation to reduce the taxes for 98 percent of the people leaving the wealthier people, i guess you could call them wealthy, the top two percentage to stay at the high rates. it is possible to do this. lou: it is possible, but i have to ask you, surely te republicans have to undestand and had to understand six months ago what what transpired in this lame duck session of congres
you to cairo for the latest on that. >>> and president obama and house speaker john boehner are talking again. but that is about the only thing close to progress in efforts to avoid the fiscal cliff. president obama used his weekly address insisting he is ready to make the tough decisions on spending cuts. >> i am willing to make more entitlement spending cuts on top of the one trillion in spending cuts i signed into law last year. but if we're serious about reducing our deficit while still investing in things like education and research that are important to growing our economy, and if we're serious about protecting middle class families then we're also going to have to ask the wealthiest americans to pay higher tax rates. that is one principle i wouldn't compromise on. >> speaker john boehner has a different view. he says the president needs to abandon what he called his "my way or the highway approach," in his words. if the president does that a lot of things are possible. >>> syrian rebels are battling army units around the capital. activists say 26 people were killed in
's not likely that president obama will get to sign his own fiscal cliff plan since the republicans and democrats don't like it. the measure was defeated 99-nothing. west virginia senator says that both sides aren't going far enough when it comes to cuts. >> they are lower than what everyone says we need. all economists say we need minimum of $4 trillion or greater swing. >> i don't know how we got off-track of what we need to fix this. >> it will be tough for the 20 senate democrats facing re-election. such as begoch and maryland land and mark pryor from conservative states. the top republicans say the president's span not serious. >> comes out with a proposal to raise taxes by $1.6 trillion. has unlimited authority to borrow more money. >> chuck schumer says he prefers to set the bar at $1 million. they have smart cuts to ask the millionaires to pay their fair shares. $60% of americans want millionaires to pay more. >> democrats hope this addres addresses the estate tax. increase it from 35% to 40 packet and lower protected to $5 million. framly farms or ranchs and that could be h
to work with president obama on the fiscal cliff have resulted in a lot of talk, but no action. yeah. a lot of talk, but no action or as they call that in college, date. >> you know what's really popular now, weed. weed. yeah, you can get it in washington legally and you can get it in colorado legally and 60% of americans say they're in favor of legalizing weed and it's, it's too bad that this comes just when twinkies is going out of business. i mean -- >> day two of legalized marijuana in washington state and you think pot smokers are celebrating, you should see ronald mcdonald's, bob's big boy, papa john, the colonkernec because there is a downside. >> the grammy nominations came out and this is interesting. both michelle obama and bill clinton were nominated in the category best spoken word album. that's
: president obama discussing the fiscal cliff, and, plus, speaking live to the iowa governor, his state facing a double whammy if we go over the cliff. what compromises he'd love to see come out of washington, and how he believes they could reach them. this is a guy who deals with the democratic senate, so, really, he knows how to cross the aisle to make it happen. david: somebody else you know about, with all the talk about tax increases, the idea of a simple flat tax dead? we'll see. forbes doesn't think so. there's a news conference along with washington lawmakers to push for the flat tax. he joins us later this hour. liz: first, what drove the marketings for today's data download. stocks ending lower, struggling for direction most of the day, unable to hold gains trading lower. i think it was 79 times. health care and industrials were today's top performing sectors and telecomo lagged. the euro extending the gains versus the dollar, rallying to a near seven week high against the green back after greece announced its debt buy back terms. euro rose to a $1131. that's high historically. actio
: hello, everybody. i'm gerri willis. a bold counter offer to president obama on the fiscal clef. the new plan contains 800 billion in new taxes, half of what the president was looking for. more importantly, the gop plan keep tax rates the way they are now. we know that is a deal maker for the tie-breaker for the presidents. joining me now, the man some democrats blame for the fiscal cliff impasse, grover norquist, president of americans for tax reform. and the many and as a finger to about fixing it, michael reagan, founder of the reagan group. i want to start with the republicans plan that they put on the table. they have been accused of doing nothing and all. they come up with their own plan which includes 800 billion in revenue from closing loopholes and eliminating deductions and then 1 billion in spending cuts. it is being rejected from the get go by democrats. grover, what do you say? >> i think the republicans had a very good plan called lorraine budget. they all voted for it in the house. it saves $6 trillion over the same decade, and they did not raise taxes and all. i really th
and egypt as we take it up with the a-team. the so-called fiscal cliff is really all about the obama ultimate may tum. >> i'm not going to sign any package that somehow prevents the top rates from going up for folks at the top 2%. lou: president's ultimatum and his insistence on higher taxes may take us over the cliff. chris and steven next. the next scott walker? michigan's republican governor ready to do political battle with organized labor in his state. what about a right to work law? straight ahead. the boys use capital one venture miles for thr annual football trip. that's double miles you can actually use. tragically, their ddy got sacked by blackouts. but it's our tradition! that's roughing the card holder. buwith the capital one venture card you get double miles you can actually use. [ cheering ] any flight, anytime. the scoreboard doesn't lie. what's in your wallet? hut! i have me on my fantasy team. if you're a man with low testosterone, you should know that axiron is here. the only underarm treatment for low t. that's right, the one you apply to the underarm. axiron is no
you to spend $400 this holiday season. on one item. >> the showdown over the fiscal cliff. a new poll suggests president obama has the american people's support when it comes to taxing the wealthy. this poll shows nearly half of those surveyed once bush eras tax cuts to expire for those making more than $250,000 a year. the poll was taken last weekend. the questions did lean more to the men -- to the democratic party. eric cantor says republicans want to sit down with the president and talk specifics. president obama spoke with business executives, calling for a balanced approach combining taxes with cuts. the president rejected a gop counter offer, which targeted government cuts but did not add any new taxes. if the deal is not reached by january 1, everyone's taxes will go up and automatic spending cuts will go into affect. >> starbucks makes news for two reasons. why they want you to spend $450 this holiday season for one product. >> a would-be thief sets off a bomb next to an atm. what wins? pictures that will show you. >> feeling like >> ready ms from the district. police are loo
:00. >>> president obama took the fiscal cliff fight to virginia today. he sat down with this falls church family to talk about how ending the bush era tax cuts would affect them. if ty expire at the end of the month, the average family of four would pay about $2,200 extra in taxes. the president says he's in favor of extending tax breaks for people making $250,000 a year or less but not for the top 2%. >> i'm not going to sign any package that somehow prevents the top rate from going up for folks at the top 2%. >> there are ways to limit deductions, close loopholes and have the same people pay more of their money to the federal government without raising tax rates. >> going over the fiscal cliff also means the 2% payroll tax holiday would expire. it would mean cuts in unemployment benefits for millions of families. lawmakers have until december 31st to agree on a deal. >>> as we reported earlier this evening, the president took a break to join the first family for the lighting of the national christmas tree on the ellipse. as fox 5's bob barnard tells us, others there say that icy chill in the a
at the white house, president obama talking about the fiscal cliff. john? >> i wanted to play a soundbite from the bloomberg interview that i mentioned to sue a few minutes ago. one yes offered a carrot to say if you do that in the short term, put revenue on the table concretely in that way, we will have a long process of tax entitlement reform that could end up reducing the rate in 2013. here is the president. >> not able to come up with a comprehensive tax reform package that gets it all done just in the next two weeks. we are not going to be able to come one necessarily comprehensive entitlement reform package that gets it all done in the next two weeks. when you luke at what ronald reagan did back in 1986, working with bill bradley and others, that was a year and a half process. what i have suggested is let's essentially put a down payment on taxes, let's let tax rates on the upper income folks go up. >> now, the difficulty of tax reform has been a concern of the white house throughout this discussion, all the way back to 2011. it's why they insisted on the top rates going up. at that time
. earlier, speaker boehner speaking about the fiscal cliff. now it is president obama. let's listen. >> we have emerged not yet where we need to be, but we certainly have made progress. the reason we have made progress in part is because of the outstanding management and productivity and gains and efficiencies that you have been able to achieve in each and every one of your companies. i have said this to some of the small groups, let me repeat it to the large groups, i am passionately rooting for your success. if the companies in this room are doing well, then, small businesses and medium size businesses up and down the chain are doing well. if companies in this room are doing well, then, folks get jobs, consumers get confidence and we will be able to compete around the world. now, the good news is, despite the extraordinary challenges we have seen over the last four years, there is progress in some key sectors of our economy. we have seen housing finally begin to bounce back for the first time. that has an enormous ripple effect throughout the economy. many of you, over the last two or th
fiscal. >>> las cifras son importantes, se verÁ reflejado de la confianza del consumidor, importante en navidad. >>> el presidente de la cÁmara baja, john boehner dijo que el presidente barack obama, estÁ empujando a la naciÓn al abismo fiscal. porque desperdiciÓ otra semana de negociaciones sin obtener logros, obama dijo que la reducciÓn del ispuesto que vence en el 31 del mes, debe extenderse a la clase media, no a los mÁs ricos. >>> faltan 4 aÑos para saber quiÉn estarÁ en la contienda del 2016 pero hubo una encuesta de los favoritos, por el lado de los demÓcratas, hillary clinton y joe biden. entre los republicanos, por primera vez en la historia de estados unidos, un hispano encabeza la lista, el joven senador de la florida, marco rubio, lourdes tiene las cifras. >>> el senador republicano marco rubio es el favorito de miembros de su partido para primarias presidenciales, el primer hispano con el nivel de apoyo para el cargo, entre demÓcratas no hay competencia para hillary clinton. que rubio encabece entre republicanos es nietos, su torico y un reflejo de la derrota ele
stories. president obama playing fiscal cliff hardball this morning. he's telling republicans he will not agree to a deal that doesn't include a tax hike on the wealthiest americans, hardening his position on this. he'll be meeting with business leaders today. >>> later this morning, speaker john boehner meets with fellow house republicans. sources tell cnn gop leaders are looking for a way out. >> it turns out the barefoot recipient of boots by a new york city police officer was shoeless but guess what, not homeless. city officials say jeffrey hillman does have stable housing, an parm in the bronx. they say he's lived there rent-free for the past three years. but hillman regularly panhandles in times square. >> a former boy scout who says he was sexually abused is suing is the boy scouts of america. the lawsuit claims his former troop leader, thomas hacker was barred from the group in indiana in the 1970s but was able to rejoin as a volunteer in illinois in the 1980s. hacker was arrested in 1988, later convicted in the aggravated sexual assault of an 11-year-old troop member in
warner. at 9:00 eastern, president obama and house spear jaub boehner and spoke about the fiscal cliff today. republicans might be willing to agree to higher tax rates on the wealthy in january. house speaker calling on the obama administration to respond to the republicans' deficit proposal. president obama is at 9:00 eastern followed by speaker boehner. >> this weekend on c-span 3's american history tv, follow harry truman's eldest grandson to japan. >> everybody has their own view what happened and i don't want to argue survival to anyone in japan about the history. we're past that. and my whole purpose for being here is to listen to the living and to do what i can. >> sunday at 9:00 p.m. eastern on c-span 3. >> the supreme court will look at what was passed in 2008 by a majority of 6-3 i believe and going to say that is precedent. and indiana had a -- >> they decided on the indiana case. it was constitutional for them to establish i.d. they did not say that all of those states -- >> correct, they talked about indiana. let me finish because you misrepresented what i said. >> no, i d
's approval rating is at a three-year rate. 53%. and 53% say they trust president obama to avoid the fiscal cliff. compared to just 36% who trust republicans in congress. also today speaker boehner said he wouldn't rule out an agreement to raise taxes as part of a fiscal cliff deal. but he also said there's no progress. this is what winning looks like. joining me now, e.j. dionne and thank you both for your time. senator solis, the jobless rate is at a four-year low. that's quite an achievement. >> yes, reverend re. but we still need to do more. in sectors like retail and health care and tourism and hospitality. we need to do more because people are still suffering. we've got to put jobs back in infrastructure and construction and put our teachers. that's why the president is working so hard so we don't go off the fiscal cliff so we keep the most vulnerable people out of harm's way. to pay $2,200. we've got to talk about fairness here and i'm very excited that the public is listening to the message that the president has made very, very clear. >> 146,000 new private sector jobs last month b
the fiscal cliff. there's a possibility if the white house and congressional leaders could resume negotiations. president obama call don banner to discuss ways to avert this. congress's joint economic committee will hold. today on how the fiscal cliff could affect the middle class economic growth, and the deficit. >> it's 35 degrees on this thursday morning. next, an unusual decision by judge. >> which of two people with a criminal past deserved to go to annapolis to represent prince george's county? greg good morning and welcome back. right now we are little busy on the maryland beltway. not seeing any delays for now but prepare for the morning rush-hour. this is footage from a tractor- trailer that overturned loaded with boxes of pineapples. leaving college park and to 270 the right lane will be blocked the entire morning rush hour. they're waiting for a truck to offload the boxes. john gonzalez will have more details later. but the right lane will be blocked through the morning rush hour. after 9:00 we will try to get that back on its wheels. how about the forecast? >> 36 degre
. >>> a family in falls church, virginia, is the face of the white house push to avoid the fiscal cliff. president obama paid them a visit to find out how tax increases would impact them. right now, there's still no agreement with republican lawmakers. nbc's danielle lee is on capitol hill with more on the president's house call today and with the latest on what both sides are prescribing. danielle? >> reporter: pat, president obama said he's trying to highlight the impact of those tax hikes on the middle class. on capitol hill, there's growing pressure to stop the campaigning and sit down face-to-face. avoiding the bickering on capitol hill today, president obama headed to northern virginia. he sat down with tiffany santana and her family to put a face on the fiscal cliff. >> for them to be burdened unnecessarily because democrats and republicans aren't coming together to solve this problem, gives you a sense of the costs involved in very personal terms. >> reporter: tiffany had used twitter to tell the president her family can't afford a tax increase. and the white house released this
of the couple's 3-month--ld daughter. 3 president obama hosted a roundtable with business leaders today..... pitchingghis plan to avoid the fiscal cliff ttrough higher ta. taxes. negotiations between the white stalled. president obama says he will not sign a bill "without" a taxxincrease on incomes over two hundred fifty thousand dollars or more. offer by republican john boehner has not only been rejected by theeadministration party. if a deal sn't made by december thirty-first, automatic tax increases and budget cuts will kiik in by the new year. sooe maryland leaders are speaking out against the fedd' decision to deny aid to hurriiane sandy victims in ur hundreds of residents along the eastern shore were devvstated whennsuperstorm sandy unleashed her fury in pctober. bbt according to the federal emergeecy management agency... tte damage wasn't enough tt warrrnt áindividualá aid. at a senatt aappopriations hearing today... senators barbara challenged fema leaders to re-think their decisson. 1:24 we in maryland have sooe of the most prosperous counttes in america but we a
's looming tax hikes and spending cuts commonly known as the fiscal cliff. despite a call between president obama and john boehner, the two sides appear to be no closer to a compromise. are republicans working on the scenes on a plan b? wall street journal columnist, dan henninger and kim strassel. you have bean working the phones, is there something going on between speaker boehner and the president? >> no, i think that they are nowhere and it's because the president is refusing to budge at all on the top toks ratestopx rates and we'll go off the cliff if the republicans don't acreed to that demand. so we're still at a stand still. >> paul: kim, why is the president so insistent on increasing tax rates? boehner has already put on the table a comparable amount of money to be gained from putting a cap on deductions, about 800 billion over ten years, so such a-- >> look, paul, two reasons. first is ideological. his partisans, his liberal base believe this is somehow a symbol of winning the tax fight and you can only do that by raising the rates on the wealthy in the country and they're insist
administration prepared to go after the fiscal cliff? >> absolutely. >> a source tells of president obama and john boehner spoke by phone. >> we cannot negotiate by ourselves. >> the hold up right now is that speaker boehner took a position, i think the day after the campaign, but said we're willing to bring in revenue but not increase rates. >> gridlock, 26 days and counting. >> no word on what the president and speaker boehner discussed, but given the fact that there has not been progress, just the fact they were on the phone represents a small development. >> still to come, he has been through hundreds of deals and no deals, has decided if america has talent, and now he is taking it all. howie mandel joins us about his new holiday game show. >> sunshine. clouds to the northwest. that is what we will watch. watch. is the fastest internet in america. just ask pc mag. [ male announcer #2 ] cable can't touch fios upload speeds. it's hard to imagine anyone ever beating fios. there's no doubt fios is the fastest in the country. [ male announcer #1 ] after 110,000 speed tests, nothing came cl
another meeting. today president obama meeting with governors on the fiscal cliff talks so what is really going on behind the scenes? well, i will tell you what, we'll ask governor gary herbert of utah. he actually met with the president so we'll get a first-hand account. tracy: yeah, that will be interesting. is red tape standing in the way of a housing recovery? will foreclosures bog down in court proceedings? our very own judge napolitano is here to give us the scoop on that. ashley: plus, say it ain't so. the bubbly is losing its physician. the champagne industry suffering from a hangover from europe's economic woes. there hasn't been a lot of celebrating across the pond lately. we'll have more. tracy: i wonder if europe is drinking wine instead? ashley: they're drinking something. they will never give that up. tracy: they do it in church, heck. all right, top of the hour, time for stocks as we do every 15 minutes. we head down to nicole petallides on the floor of the new york stock exchange. girl, we are, as ashley said, drifting and it is all because of washington, isn't it? >> ther
to avoid the year end fiscal cliff. >>> and president obama is meeting with a group u.s. governors today around 10:00 a.m. eastern. it includes jack markell, mary fallon, scott walker. the governors will discuss how the fiscal cliff will impact their states and possible solutions. it's also expected to meet with house republicans, as well, this week. >>> and oracle is amongst the latest of speeding up their dividend pay outs to avoid possible tax hikes because of the fiscal cliff. they will pay dividends a total of 18 cents a share for the next three quarters. larry ellison didn't take part in the decision, but he will benefit. he own as 23% stake in the company, so he'll receive around $198 million. yes, you heard it right. oracle stock down 0.8% despite that in frankfurt. still to come, interest rates in australia are moving down. down under. find out what central bank is worried about when we come back. >>> australia central bank held its rate setting meeting. matthew taylor has the details. >> the market had been pricing in a 25 basis point rate cut and the reserve bank delivered wit
-offer in fiscal cliff negotiations with president obama takes away a white house argument that the republicans have no plan and puts medicare on the table for discussion. the republican counter-offer would raise $800 billion through tax reform and cut $600 billion from federal health programs, including raising medicare eligibility, another $600 billion cut from mandatory and discretionary spending, and factor inflation less in calculating social security benefits. "what we're putting forth is a credible plan that deserves serious consideration by the white house." in a three-page letter to the president calling democratic gains in the senate and mr. obama's victory a "status quo election," the republican proposal would raise half the amount as the president's plan and save $350 billion from medicare and medicaid. however, at the chicago fed, a gathering of 39 individuals from banking and manufacturing industries - including automakers and other sectors - say the economy is strong enough - barely - to withstand either party's direction. "the vast majority think the fiscal cliff's impact will n
the so-called fiscal cliff. this morning president obama will host some of the nation's governors to spread his message. the president wants to raise 1.6 trillion in revenue by increasing taxes on the top 2% of income earners. republicans counted with a 2.2 trillion dollar deficit reduction plan, 800 billion dollars in revenue, but didn't call for raising tax rates on wealthy. the proposal was quickly ejected with the white house. >>> new -- rejected by the white house. >>> new poll shows -- gallup asked americans to rate honesty and ethical standards car salesmen got lowest marks 8% marked them high or very high. congress is just above them, only 10% scored in the top two categories to be honest. journalists 24%. top of the rankings, nurses, 84% of americans gave them the highest marks and of course meteorologists right behind that >> i was going to say even though it is not darn -- not a 100% science -- [ talking over each other ] >> 100% science that has accuracy, a little less -- okay stop digging. [ talking over each other ] >> they didn't rate meteorologists i wonder who is
. >>> and house speaker john boehner discussed fiscal strategies with president barack obama in a phone call. this comes as another republican is ready to break ranges. he said he could support president barack obama's demand for an increase in tax rates as part of a comprehend sufficient plan -- comprehensive plan to cut the federal deficit. some are looking for ways to save faces a they give in. >>> and maintenance costs, used by state lawmakers, at least a douse member of the legislature had repairs on those vehicles and repairs were made before lawmakers used them for their personal use. in any case the costs were thousands of dollars. >> only state in the country finally ended this program and they saw some abuse and they saw voters did not like the program and that it was a perk they could give up. >> starting this year, lawmakers are not issued any cars anymore instead they are. >> paid a moulin rate -- mileage rate for using their own vehicles. >>> now here is a look at items where they recently confiscated them from the burglary ring. investigators have arrested two brothers and a w
, everybody, we're live in america's news headquarters, i'm jamie colby. president obama going off republicans on the looming fiscal cliff on the weekly radio address. accusing the house of blocking a bill aimed at year end middle tax cuts. >> they put forward an unbalanced plan that lowers rates for the wealthiest americans. >> if we want to protect the middle class, the math didn't work. >> meanwhile, florida senator marco rubio delivering the response, prosperity should come through job creation and smaller debt not taxes. >> we must get the debt under control. taxes will not control our debt. >> both sides of the issue. i'm jamie colby, back to cavuto on fox business, only on the fox news channel. >> what's the deal with the guy wearing sunglasses and saying nothing? >> and all over again in michigan, protesting the right to work bill. the scene almost identical to wisconsin last year and that state's battle over collective bargaining and then, what's going on? >> and i think it's always tough for unions to admit they've lost allure. i'm a union man and i know charlie is very fond of union
of congress and president obama if they can't avoid the fiscal cliff. the petition's chances are slim. but it's a reflection of americans' frustration with 28 days left. rob and paula? >> tahman bradley live in washington today. thank you, tahman. >>> and as talks over the fiscal cliff drag on, a new poll finds that most americans do not think very highly of congress. one in ten americans rate the honesty and ethical standards of its members as very high or high. this puts the law making body, second-lowest on the list of 22 professions. higher only than car sales people. >> how telling is that? >> that's an indictment. >>> and another nasty storm is drenching the west coast, from northern california, into portland and seattle. this is the fourth big rainmaker to hit that area in a week. and this time, it could dump up to five inches of rain and cause even more flooding and destruction. abc's brandi hitt has the latest. >> reporter: after several days of drenching rain, downed trees, flooding and rockslides, families throughout the west are finally getting a break in the severe weather to cle
to keep the nation from going over that so-called fiscal cliff. the clock is ticking now. 27 days to go. >> and president obama and congressional republicans are making plenty of sound bytes about it all. but very little progress. abc's tahman bradley has the details from washington. >> reporter: democrats and republicans remain light years apart. here's president obama, in an interview with bloomberg tv, describing house speaker john boehner's plan to avoid the fiscal cliff. >> unfortunately the speaker's proposal right now is still out of balance. >> reporter: the speaker's plan would raise $800 billion in tax revenue. but does so without raising tax rates for top income earners. the president says that's unacceptable. >> we're going to have to see the rates on the top 2% go up. and we're not going to be able to get a deal without it. >> reporter: republicans, like rising star senator marco rubio, say raising taxes on the wealthy is the wrong approach. >> the tax increases he wants would fail to make even a small dent in the debt. it would hurt middle-class businesses and the people w
you very much, mary thompson. still ahead, live coverage of president obama's remarks on the fiscal cliff before the business roundtable. can the president convince corporate america that he's got the right solution for avoiding the cliff? we'll bring you live coverage in just a few minutes. [ male announcer ] when it comes to the financial obstacles military families face, we understand. at usaa, we know military life is different. we've been there. that's why every bit of financial advice we offer is geared specifically to current and former military members and their families. [ laughs ] dad! dad! [ applause ] ♪ [ male announcer ] life brings obstacles. usaa brings advice. call or visit us online. we're ready to help. or that printing in color had to cost a fortune. nobody said an all-in-one had to be bulky. or that you had to print from your desk. at least, nobody said it to us. introducing the business smart inkjet all-in-one series from brother. easy to use. it's the ultimate combination of speed, small size, and low-cost printing. >>> santelli is back after a day of
obama said the approaching fiscal cliff will add to the holiday stress for american families. the president did not meet with congressional leaders on the fiscal cliff, instead, he met with a local middle class family. danielle lee joins us from capitol hill. danielle? >> reporter: doreen, president obama said he's highlighting the impact of tax heights on the middle class. there's growing pressure to stop the campaigning and sit down face to face. avoiding the bickering on capitol hill today, president obama headed to northern virginia. he sat down with tiffany santana and her family to put a face on the fiscal cliff. >> for them to be burdened unnecessarily because democrats and republicans aren't coming together to solve this problem, gives you a sense of the costs involved in very personal terms. >> reporter: tef any had used twitter to tell the president her family can't afford a tax increase. and the white house released this video. >> $2,000 for me would be paying a month's rent. >> reporter: back in washington, more gridlock. >> it's up to the republicans to decide ho
will not. up next, president obama meeting with everyone about the fiscal cliff, everyone except for the leaders in washington d.c. for the republican party. we will share ourist of people that the president might also want to think about sitting down with. it might have just about as much affect as president obama plane taxman. how much higher? we will show you what some suspect about the math in d.c. in the "chalk talk" next. you stl think you'reolder than me? nah. don tell me. tell tiny! [ ice crackling ] [ knuckles cracking ] and who are you supposedo be, back-up? handlet. what you looking at? ha! cat-like reflexes... whoa! [ male announcer ] the coors light silver bullet pint. it's bigger. it's resealable. it's still the coldest. don't you do it. don't you do it! [ male announcer ] frost brewed coors light. the world's most refreshing beer! mortgage. married. two great kids. he wantso protect his family with a $500,000 term life insurancpolicy. what do you think it'll cost him? a hundred dollars a month? sixty? forty? actually none of the above. john can get a $500,000 polic
will not up next, president obama meeting with everyone about the fiscal cliff, everyone except for the leaders in washington d.c. for the republican party. we will share our list of people that the president might also want to think about sitting down with. it might have just about as much affect as president obama plane taxman. how much higher? we will show you what some suspect about the math in d.c. in the "chalk talk" next. ♪ lou: we have a national debt net of $16 trillion. we want to do a little something in that "chalk talk" tonight to bring some simple math home, primarily for the benefit of those we elected to represent us in washington d.c. and if cbo, a congressional budget office projections are right, that 16 will be a trillion dollars higher next year. if the fiscal cliff is avoided, the federal government is expected to spend, let's do it this way, over threed a half trillion dollars. at's a lot of money, especially since they are only collecting to one-half in revenue and taxes. that leaves us with the deficit of one. that is the deficit. sizable it is. this w
no effect, as many had expected, from hurricane sandy. this all comes as we get word that the fiscal cliff talks will boil down to what happens between two people and only two people. president obama and john boehner. even all sides of the party are excluded. >>> with 25 days before taxes go up for nearly every single american, what effect will the jobs report have on the fiscal standoff? we'll get live remarks from john boehner who is going to try to use the jobs report to the republican's advantage. representative, let's start with the november jobs report numbers. they look very good, good news overall for the koirnlt tree. but speaker boehner said this, the democrats plan to slow walk our economy to the edge of the fiscal cliff instead of engaging in serious talks to avert the cliff, that includes spending cuts and tax reforms the president once supported. the white house has only offered a joke. i understand we have speaker boehner to the microphones. let's take a listen. >> when it comes to the fiscal cliff that's threatening our economy and threatening jobs, the white house has wast
obama and house speaker boehner on the so-called fiscal cliff. and the two most important players involving the financial future of our nation. i'm harris falkner, we're told a meeting was held behind closed door and without the media's knowledge and both men tight-lipped about what was said and when we asked for comments, both giving us the same statement, quote, this afternoon the president and speaker boehner met at the white house to discuss efforts to resolve the fiscal cliff, we're not reading out details of the communication, but the lines of communication remain open, end quote. this meeting comes as the white house and congress appear to be at at impasse, you know by now is crippling spending and tax hikes and could cost us jobs and send us back into recession and to solve the problem, republicans say we must prevent our ballooning national debt from crushing generations. and chief white house correspondent now ed henry joins us by phone with the latest on this breaking story, ed, they kept this under wraps. how big after deal is this? >> good evening, harris, there's not
a republican counter offer that president obama initial plan to get the country off the fiscal cliff. we have details of what house speaker john boehner calls a bold offer. what if we jump off the cliff? we talk about the budget cliff with the ranking member vis van hollen. egypt constitutional crisis goes on. judges from the highest court say they are afraid to do the jobs. "special report" from washington with breaking news from the middle east starts at 6:00 eastern. now back to new york and my colleagues with "the five." ♪ ♪ >> greg: last week, i went on a tour to promote my book "the joy of hate" which took me from florida, to alabama, and georgia. to tennessee. some call this the south with sarcasm. a buddy of mine gave me flick "deliverance" to watch as a joke. but i freaked out, large crowds with mom for daughters and sons for dads. dads for daughters. so many brought food from pumpkin bread to moonshine. that nearly killed me. more unicorns to shake a horn at. each place i went fan of the five turned on by a parent or their child. this was shared activity, the "the five," "red ey
was that the majority of americans agreed with president obama's vision of one of the ways to fix the fiscal cliff had to be to put new revenues and raise the tax rates of the wealthiest americans. [ ♪ music ♪ ] >> cenk: so taking this case to the american people fighting strong, making his own case which he we've been asking him to do for four straight years. my reaction was this. >> flabbergasted. [ laughing ] >> cenk: what's your reaction. >> slightly flabbergasted because this is not how the president has worked before. he ran with a grassroots in 2008. we tried to recreate that, talked about the ground game in the campaign in 2012. he's taking a grassroots campaign to politics, which is what progressives have been begging him to do now for a while. it seems to be working. all the hash tags and all the my 2 k has tags has gotten up to 13,000 tweets per hour. not every one of them is, hey great idea, mr. president. a lot of them are coming from people who are conservatives saying whatever it is that they're saying. the point is he's in touch with the people. he's not living in a cocoon like he
america president barack obama talks about the dangers of going over the fiscal cliff with a family in virginia finger-pointing and washington continues and we now know when u.s. senator mark kirk will return to the senate and kate middleton out of the hospital ottawa8k÷ç<Ñlnh@Ñçú;ho>?úuú?úttz@z.ç@o@,npón=kí8+ñ<úpkxmz7p/pípçsúoÑ÷çpefo?÷hoo[.÷úvpop?mvñ-w?[ñ;÷oóñ8é>é?@vzç÷@m p]y>w4?8úú(.ú?lpñrtyd@z@3póé÷úyú,áy0=ipw@ñ@?/;<ó@óp,wúÑ>vi÷ñúkpñpñp?é÷v@%pu@zÑxuk ♪ ♪ ♪ pop goes the world ♪ ♪ it goes something like this ♪ [ female announcer ] pop in a whole new kind of clean with new tide pods... just one removes more stains than the 6 next leading pacs combined. pop in. stand out.president obama meeting with middle-class families to discuss how the fiscal clifton heard them while the gop is accusing the president of wanting to spend more taxpayer dollars he visited a high school english teacher in virginia to talk about how we $2,000 tax hike could hurt the middle class and make it difficult to pay rent
is trying to avoid plunging of the fiscal cliff. he has made clear that the obama administration is saying that the first order of business has to be to extend tax breaks for middle-class families and raise tax rates for the top 2% of income earners. talks over how to rein in entitlement spending should be held sometime next year. >> the president is asking for $1.6 trillion of new revenue over 10 years. twice as much as he has been asking for the public. his stimulus spending exceeded the amount of new cuts that he was willing to consider. it was not a serious offer. reporter: enter a new player in the talks, stephanie cutter. you remember her? she was the deputy campaign manager for the obama-biden ticket suggested that mitt romney might have committed a felony on his tax returns. sunday night, she e-mailed them to reach a fiscal deal. republicans have balked at raising those tax rates. they are identified by marcus at countries job creators. >> for the first time in two decades, they are there will tell revenues go up as part is the plan. but they have to tell us what they're willing to
, there will still be slavery. >> that's the shocking claim of aan anonymous top obama advisor. >>> i believe it's safer to go over the fiscal cliff. >> do the democrats secretly want to plunge over the fiscal cliff? we'll examine the growing evidence that indicates this may be obama's secret plan. we'll have much more. hannity starts right here, right now. >> welcome to hannity. there are late breaking developments tonight related to the fiscal cliff battle being waged in washington. now, late this afternoon house speaker john boehner sent a letter to the president detailing a bold counter offer to the administration's plan. the g.o.p. proposal does not include a tax increase on the so-caldwell thee but does contain $800 billion in revenue through tax reform, another $600 billion in health savings and much more. all told, the net savings amount to around 2.2 trillion dollars. the white house responded to this letter by saying that the president is, quote, willing to compromise but not on the subject of making job creators pay more in taxes. however, what our tax and spend commander-in-chief fai
isn't even a start. six governors, democrats, and republicans weigh in on the fiscal cliff today. what will they tell president obama about the spending cuts and tax increases now just 28 days away? >> we must reign in our out of control spending. >> reporter: republicans have an offer, $800 billion in new taxes, half what the president wanted. $600 billion saved in part by making americans wait until they're 67 to get medicare. plus more cuts totalling $2.2 trillion. but no tax hikes for the wealthy. >> that's just not going to happen. >> reporter: the pentagon could take the biggest hit from president obama told defense experts monday, don't worry. >> even as we make very tough fiscal choices, we're going to keep investing in these programs. >> reporter: he went online on youtube and twitter explaining why he thinks the rich should pay more. going over the fiscal cliff could cost america jobs. >> we're only expanding 2% right now. it needs to be considerably higher to bring more people off unemployment. >> reporter: for the jobless, president obama is asking congress for millions mor
of deal before the country hits the so-called fiscal cliff. president obama says, there isn't enough time to do a comprehensive deal including tax reform and fixing medicare. so he wants congress to do a down payment by raising tax rates for the wealthy "now"... and putting off the hard work until next year. but, as jessica yellin reports, he has to win over the republicans to make that happen. what does president obama think of speaker boehner's proposal to avert the fiscal cliff? >> "unfortunately, the speaker's proposal right now is still out of balance he talks, for example, about a 800 billion dollars billion worth of revenues, but he says he will do that by lowering rates. when you look at the math, it doesand he won't agree to eliminate a tax dedication >> "every hospital and university and not for profit agency across the themselves on the verge of realistic option." >> but the president didn't say all this to speaker boehner -- he said it in an interview on bloomberg tv. the last time the two men spoke was almost a week ago. president obama is focused on the stalema
to thank tiffany. >> the fiscal cliff negotiations are down to president obama and john boehner. the uncertainty could take a toll. >> it hasn't affected hiring and layoff decisions yet but it will if we get into next year and haven't nailed this down. >> on monday the president travels to michigan to talked economy at a diesel plant. >> why is superstar sandy plain such a role in the jobs report? >> 24 states were affected one way or the other. businesses had to shut down. between the fiscal cliff and senate come when my has seen it up to 200,000 jobs added. instead we're looking at something more like 100,000 we think. not very good. >> tara mergener, thank you. you can apply for official federal assistance immediately. the deadline is this month for some workers. for more affirmation, call 288- 9050. >> 33 degrees at the airport. after some criticism, could apple be in sourcing its next big project? >> will you be putting fewer gifts under the christmas tree this year? >> a day that still lives in infamy. the anniversary of the attack on pearl harbor. >> scattered showers tod
geithner gets tough during the sunday morning talk show. he has drawn a hard line saying the obama administration will refuse any fiscal cliff deep that does not include a tax hike on the richest americans. geithner remains optimistic despite harsh words from republicans. >> reporter: with the clock ticking in washington and the fiscal cliff moving closer every day, tim geithner said they will only approve a plan with tax rates. >> if they are going to force higher rates on virtually all americans, because they are unwilling to let tax rates go up on 2% of americans, then that's the choice they're going to have to make. >> reporter: geithner presented his plan to republicans, calling for $1.6 trillion in revenue and cuts in stimulus spending. he suggested the bush era tax cuts must expire for the wealthiest americans. >> we put forward a very comprehensive, carefully designed mix of savings and tax reforms to help us put us back on a path to stabilizing our debt and living within our means. >> reporter: republicans did not welcome the proposal. >> i was disappointed by the presiden
presidente de los estados unidos barack obama para evitar el llamado precipicio fiscal ,reducir la edad para medicare y presentar recursos social, quiere que el gobierno actúe de manera oportuna, antes el presidente de los estados unidos barack obama dio los impuestos a 10 años, el sistema de transporte considera cambiar e lcosto de las tarifas según el ingreso de los usuarios, quieren cambiar un sistema de tarifa que de descuentos para quienes lo necesiten, emitirán un informe de cambios de la política a principios del 2013. >> esperan avanzar en la propeusta de usar contenedores de polietileno, quieren que usen vasos y platos de este material, el consejo analizará la propuesta en febrero, la muerte de una joven mujer durante un enfrentamiento entre policías y sicarios deja descubierto una tendencia que liga al narco con reinas de belleza . >> como muchas mujeres de la belleza, maría soñaba con las piedras y la corona de ser miss universo, pero su anhelo fue cortado . >> la belleza atrae a las personas, pero la muchachita . >> no es la primera misa que se vincula con los carteles
are headed here to washington today to tell president obama their thoughts on the fiscal cliff. the bipartisan group says both sides need to work together to avoid the tax increases and spending cuts due to kick in at the end of the year. >> no one's going to get what they want, but as a country to move forward, we've got to figure out who gives where, and if everything is going to be out on the table, how do we negotiate that? >> reporter: republicans have given a counterproposal to the president's plan which he issued last week. they say their plan would cut $2.2 trillion from the federal deficit over ten years. with $600 billion in health care cuts, $300 billion in cuts to mandatory spending and another $300 billion in cuts to other federal spending. the biggest difference between the republican plan and the president's remains taxes and how the government can generate more revenue to pay down the debt. >> rates have to rise on the top 2%. there's no other way to do it. >> reporter: president obama says his plan will raise taxes on the rich, bringing in $1.6 trillion. republ
obama their thoughts on the "fiscal cliff." the bipartisan group says both sides need to work together to avoid the tax increases and spending cuts due to kick in at the end of the year. >> no one is going to get what they want. but we have to compromise. if everything is going to be on the table, how do we negotiate? >> reporter: republicans have given a counterproposal to the president's plan which he issued last week. they say their plan would cut $2 .2 trillion from the federal deficit over 10 years. but $600 billion in healthcare cuts, $300 billion in cuts to mandatory spending, and another $300 billion in cuts to other federal spending. the biggest difference between the republican plan and the president's remains taxes and how the government can generate more revenue to pay down the debt. >> rates have to rise on the top 2%. there's no other way to do it. >> reporter: president obama says his plan will raise taxes on the rich bringing in 1.6 trillion. republicans want to close tax loopholes and eliminate deductions to raise $800 billion in new revenue. >> the president has a hug
. >> all of the attention today in washington is on the looming fiscal cliff. president obama administration is quietly handing over billions of dollars to the united nations in the name of global warming. >> that was the opening salvo of a recorded message that was sent to qatar where they joined 200 countries around the world this week at a united nations climate issue summit. negotiations continue regarding a large scale climate treaty to be signed by 2015. while the u.s. senate would have to ratify any international treaty by two-third vote, inhalf says he and others are more concerned about the domestic regulations. he continued to press white house about why the administration failed to issue reports on pending regulations in april and october as required by law. the white house wouldn't explain the last to us, the source says the federal agencies are in the process of pulling together that information. bret? >> bret: thank you. there are a lot of extremely happy people in washington state tonight at the stroke of midnight, hundreds lit up under the seattle space needl n
the information. >>> deadlock, that's how people on capitol hill are describing the talks to avoid the fiscal cliff. president obama and john boehner did speak on the issue today, but the results of that conversation not public. the white house has now asked federal agencies to plan for more than $100 billion in cuts. that's what happens if the issue is not resolved by december 31st. >> we've got to cut spending and i believe it's appropriate to put revenues on the table. >> let's allow higher rates to go up for the top 2%. that includes all of you, yes? >> president obama speaking to business leaders when he made that comment today at the white house. insists he will veto any bill that does not include tax increases on wealthier americans. >>> coming up an online shopping horror story, a maryland woman's story may convince you to read the fine print. >> last night we were around 60 degrees most places at this hour. tonight we're some 20 degrees colder than that. i'll let you know how low it gets overnight and if we'll see more warm air on the horizon, but get ready for a chilly overnight. th
uceda univision el presidente obama reitera una vez mas que no aceptara cualquier otra medida que no sea el aumentar los impuestos a los mas ricos para evitar el abismo fiscal.. pero como esto afectaria a los latinos?.. fernando pizarro con los detalles... *+ ante lideres empresariales, el presidente obama dijo que no negociara y que debe haber 1 compromiso para evitar que los impuestos suban a partir del 2013 dejemos que aumenten las tasas de interes para el 2% de ingresos mas altos, eso los incluye a ustedes, pero no de manera que afecte su estilo de vida o la economia significativamente. aseguremon os que el 98% de los estadounidenses no vean ni un centavo de aumento de impuestos el proximo ano. segun este contador,rsonal a *+ ante lo mas importante es no facilitar su informacion personal a desconocidos y reconocer los principales medios que usan estas personas. he aqui algunos consejos. ¿ofertas de navidad que parecen muy buenas para ser cierto? tenga cuidado... en esta temporada del aÑo, los celulares son los medios por ia trampas a veces, los textos pueden provenir hasta de sureg
. president obama's initial offer on the fiscal cliff was resoundingly rejected by republicans. it included a $1.6 trillion tax increase, double what he campaigned on. also included $400 billion in entitlement cuts eliminating the need for congressional approval to a raise the debt ceiling. the markets rebounded later in the week following the latest hopes on a fiscal cliff agreement. america's economy grew at a faster pace than initially expected in the third quarter of the year. the second reading of the gross domestic product showed it at rate of 2.7% spurred by stronger inventories and exports. the securities and exchange commission is looking for a new chairman. mary shapirp schapiro announcin she will step down after nearly four years on the job. the obama administration says it will announce a replacement in the near future. >>> starbucks has a new way to spend a lot of money. it is introducing the most expensive blend made from a rare costa rican variety named geisha. it is $7 a cup and only available in 48 stores. if you order one, drink it slowly and enjoy every sip. >>> is the fi
.m. >>> republicans and democrats raided accusations over who is to blame for the fiscal cliff. john boehner and president obama and nancy pill low city blamed the republicans. >> we had a serious proposal based on president clinton's chief of staff. there is no counter offer from the white house. unstead, reports indicate that the president -- instead, the president has deliberately walked our economy right to the edge of fiscal cliff. >> he said democrats are slow walking the economy to the fiscal cliff, yet, this is the same republican leadership that has the house in session barely a day. barely a full day this week. >> the fiscal cliff is the term that is given to a set of spending cuts and tax increases that will take effect in january if congress does not act to stop them. >>> investigators are trying to determine what happened before a football fan fell or jumped from the third deck at the oakland coliseum. he fell to the concourse during last night's broncos, raiders game and taken to the hospital with serious injuries. they called it an accident and it remains under investigation.
- called fiscal cliff. for the first time in days, president obama and house speaker john balkaner spoke by phone about the looming deadline. there reportedly was no major progress but leaders say it was a start. the two sides have agreed to tax reforms and spending cuts but are still at a stalemate on raising attacks on incomes over $250,000. >> the hold-up right now is that speaker boehner took a position i think the day after the campaign that said we're willing to bring in revenue but we're not willing to increase rates. >> i'm be here an i'll be available at any moment to sit down with the president to get serious about solving this problem. >> speaker boehner says the president has not responded to the republicans' latest proposal that does not include a tax increase on wealthy americans. >>> new this thursday morning, former delegate tiffany alston is officially out of office. yesterday, a prince george's county judge ruled that she was out of office following her october plea deal relating to office misconduct. the judge also ruled that the nomination of greg hall by the democrat
the washington institute. president obama announced the proposal for avoiding the fiscal cliff. republicans called it a "joke." breaking just minutes ago, republicans have made a counteroffer. we will get to that. tdd#: 1-800-345-2550 let's talk about low-cost investing. tdd#: 1-800-345-2550 at schwab, we're committed to offering you tdd#: 1-800-345-2550 low-cost investment options-- tdd#: 1-800-345-2550 like our exchange traded funds, or etfs tdd#: 1-800-345-2550 which now have the lowest tdd#: 1-800-345-2550 operating expenses tdd#: 1-800-345-2550 in their respective tdd#: 1-800-345-2550 lipper categories. tdd#: 1-800-345-2550 lower than spdr tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 and even lower than vanguard. tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 that means with schwab, tdd#: 1-800-345-2550 your portfolio has tdd#: 1-800-345-2550 a better chance to grow. tdd#: 1-800-345-2550 and you can trade all our etfs online, tdd#: 1-800-345-2550 commission-free, from your schwab account. tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 so let's talk about saving money, tdd#: 1-800-345-2550 with schw
republicans sent president obama a new offer to avoid the fiscal cliff, a counter offer to president obama's plan, proposing raising $800 billion from tax reform, not higher tax rates. but the white house immediately slammed the offer and said it won't even consider it. tonight, speaker boehner's response to the white house response, saying it's up to the president to come up with a plan. allen west is here. good evening. >> good evening. >> your thoughts, apparently the white house is unimpressed with the proposal by the speakert and white house republicans? >> i think the white house needs to do case studies, calvin coolidge and president john f. kennedy, when you look at what they did with lowering tax rates and increase revenues. calvin coolidge went from 73% to 24%. john f. kennedy from 91% to 71%. they increased revenues. we are not talking about what the president is looking at with his wealth redistribution, we are talking about wealth expansion, economic growth and sound policies to do that. if you want to continue to believe that $250,000 makes someone rich, you are going to crus
will push back on president obama's demand for tax hikes on the rich when it comes to the fiscal cliff. but treasury secretary timothy geithner says the white house will not give in. >> no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest americans. remember it's only 2%. >> geithner adds the obama administration is, quote, absolutely prepared to go off the cliff, if necessary. joining me now is van jones, cnn contributor and former obama administration official. good morning. >> god morning to you. >> so, van, i guess my first question that's eatsy for geithner to say, we're perfectly willing to go off the fiscal cliff. that means a tax hike on middle class americans and maybe some of them are thinking this morning i'm not really so happy geithner said that. >> it might have been inartful for him to say it the way he said it. i think he is making a very important point, which is that the american people did vote. they voted for the one thing the president said very clearly, which is that tax rates would go up on the wealthiest. it's an
that is president obama and the democrats to save you for being higher taxes. this fiscal cliff thing, the problem with the republicans, larry, is that they have been boxed in by the democrats into a difficult position where the polls confirm that the public in america believe that the reason that president obama is going to win the debate is because, come the fiscal cliff moment, that if he goes over, that they are going to save the backsides of the wealthy 2% of americans. i probably shouldn't but i do. >> speaking as a reagan conservative, i must say i rather agree with you. probably shouldn't. but i do. i think divided government is very difficult. and there's some principles that speaker boehner is fighting for, with which i actually agree. but i think politically, the risk here for the gop, is they've become the party of rich people. and they give up the middle-class to the democrats. and i think you saw some of that in the presidential election. i don't think that's their intent. i think their tax reform intent is quite sound. but the way this is playing out, i think that's a big risk for t
miklaszewski, nbc news, pentagon. >>> back here at home, fiscal cliff negotiations in washington are still up in the air. most lawmakers have gone home for a long weekend break. this as timothy geithner says the obama administration is willing to go over the fiscal cliff. nbc's tracie potts joins us live from washington with an update. good morning to you. >> reporter: let's start with geithner. he told cnbc that instead of continuing tax breaks for the wealthy, the obama administration is willing to go over this cliff which means they're willing to let your taxes go up and unemployment checks go away massive spending cuts happen if the pentagon instead of continuing the tax breaks for the wealthy. now there's been very little progress here on chiapitol hill which is why so many have gone home. we know that president obama and john boehner spoke by phone. republican sources telling us they had a conversation yesterday. we don't have a readout on what that was about. we don't know that if any meetings have been scheduled. but any small sign of progress is welcome here on capitol hill. now with
believe it. the most important time for our current fiscal of talks is 2010. that is when president obama extended all of the bush tax cut rates that are about to expire. host: we want to get the first question from cindy on twitter. sen the it's the exact dynamic that is a problematic in this. -- guest: cindy it's the exact problem as a problematic. it will only increase government spending. unemployment benefits are a stopgap measure that prevent people who might be able to get work from getting other government benefits. the most egregious example is social security disability. as people start to exhaust their unemployment benefits, they apply for disability. that is a good program designed for people who are unable to work. as more and more people who can work apply for it, that drains the resources. once they get on that, they do not get back into the workforce. we see the trust fund set to hit insolvency in 2016. host: we will go first to tim from carolina on the republican line. caller: good morning. how are you? i would like to ask a question. how can the government extend unemplo
: there are reports this morning that fiscal cliff negotiations are really between president obama and speaker boehner right now. the speaker said he spoke on the phone with the president yesterday and it was a pleasant conversation. but more of the same. reporting live from washington, d.c., alison burns, ktvu channel 2 news. >>> 8:15. bay area sheriffs may be changing how they deal with suspected illegal immigrants. state attorney general kamala harris recently told the sheriffs they don't have to hold illegal immigrants want to deport them. she said those with serious criminal record -- records should be detained and deported and local departments have to decide how to handle others. >>> police made several arrests at the building where hundreds chose to report >>> the so of netflix may be in trouble for something he put on facebook. back in july, he wrote on his page that netflix employees are enjoying a billion hours of movies a month. the s.e.c. is considering a cease and desist order. >>> protesters in egypt are showing their opposition to mohammed morsi. in the speech, president morsi refused
.vitac.com >>> congratulations, washington, you achieved nothing this week. this is "your $$$$$." last week, president obama's offer to avoid the fiscal cliff was laughed at by republicans. this week, the gop countererred. extend the bush tax cuts to everyone, including the rich. revenue, cost savings, cutting, whatever you want to call it from vague areas such as closing, special interest loopholes and deductions, savings from health care and cuts in discretionary spending. other than that, no specifics. president obama wasn't feeling it. he said the gop must agree to one thing to get anywhere close do a deal. >>. >> wee going to have to see the rates on the top 2% go up and we're not going to be able to get a deal without it. >> speaker boehner fired back. >> this week, we made a good faith offer to avert the fiscal crisis. now, we need a response from the white house. we can't sit here and negotiate with ourselves. >> so, here we are, just over three weeks from going over the fiscal cliff. you're probably getting a lot of stuff around the house this weekend wondering what the heck is going on in these ho
of the big problems we have is if you look at this president obama proposaproposal contains fiscal stimulus republicans object to. it will be hard to get fiscal stimulus through this year. monetary stimulus from the federal reserve is very much alive. >> absolutely. let me get your take on what we see happening here because we have breaking news on oracle. once again, more companies paying a dividend this year not waiting for next year because they want to be sure investors have a chance to get attacked at 15% capital gains tax or dividend tax as opposed to much higher because we know that taxes will probably go higher in 2013. oracle is accelerating payments of 2013 dif dens. they're going to pay second quarter, third quarter and fourth quarter dividends this month. gordon, what has that done to trading and investing environment? all these special dividends. oracle is doing it now, second quarter, third quarter dividends this month so investors can get taxed at the 2012 dividend rate. >> it's bigger than that because it's not only the corporation themselves but corporate executives. cashin
achieved nothing this week. this is "your money." president obama's offer to avoid the fiscal cliff was laughed at by republicans last week. this week the gop counter offered. theirs, extend tax cuts to the everyone including the rich. $2.2 million in areas from closing loopholes and deductions, savings on health care and cuts in discretionary spending. other than that, no specifics. president obama said the gop must agree to one thing to get anywhere close to a deal. >> we have to see the rates on the top 2% go up. we're not going to get a deal without it. >> speaker boehner fired back. >> this week we made a good faith offer to avert the fiscal crisis. now we need a response from the white house. we can't negotiate with ourselves. >> here we are just weeks away from going over the fiscal cliff. you probably wonder what's going on in these houses in washington. they put themselves and their political gains first and put their future in prosperity second. hey, you voted them in. remember what happened the last time washington got into a budget battle like this? lawmakers put a band
$800 billion in tax revenue in the fiscal cliff negotiations. president obama has said there will be no deal unless taxes are raised on the wealthiest americ americans. but staunch conservatives don't want any kind of new taxes. that's where speaker boehner's job gets really tough. on piers morgan tonight newt gingrich said if all else fails, go over the cliff. >> i think that no deal is better than a bad deal. i think going off this cliff is less dangerous than letting things build up for a year or two years to an even bigger cliff. i think that the president clearly has staked out a position of nonseriousness. and i think that it's very difficult for the house republicans right now to find any practical way to get his attention. so, he just won an election. he is feeling very good about himself. he is posturing brilliantly, putting the republicans in a corner. they need to relax. they don't have an election until november 2014. >> senior congressional correspondent dana bash joins me now. dana, can we expect fire woworkt the meeting this morning? >> reporter: possibly
the fiscal cliff make sure that it's president obama who takes us over that cliff. is there any way they can do that, nina? polls show if we go over a fiscal cliff the american people blame republicans. >> they will blame republicans. >> john: how do you make it the president's doing? >> it's going to be very difficult. he knows he is in a powerful position. he has got, he has got -- politically he has got opposition to things like raising the age on medicare on his side. not going to budge on that. he has got the fact that jeff whelmingly people want to tax the rich. even though it might be bad for the economy or bad for small businesses. it's a political win for him. so he has every interest in dragging this thing out. and hitting republicans over the head. i somewhat disagree with charles. i'm not sure he is going to take the leap over the cliff. one possible point of compromise on taxes might be the buffet rule, where you put a minimum tax on people who earn just $1 million and above. i could see republicans possibly swallowing that. but not sure >> john: charles, lately there has been t
with the fiscal cliff crisis. opponents say they will not bulging. >> reporter: house republicans want big spending cuts but no tax rate increases. here is a picture of president barack obama answering questions on twitter about the fiscal cliff. he is promoting a reference to the estimated tax increase and middle income families would see if rates are not extended, the latest would extend tax cuts for everyone including americans and who the president wants to exclude. the white house says the proposal is too short on specifics. >> we can't guess what they are, they need to tell us and they look forward to the time when they are specific with the ways we have dealt with it. >> they don't like what republicans want to do to social security and more on that during my next update. reporting live, allison burns, ktvu channel 2 morning news. >>> 5:14 in florida, they have released a photo of george zimmerman, showing george zimmerman with a swollen nose and blood did i face. they responded and said it adds nothing new to the case. the volunteer watch man is charged with second-degree murder an
you for that reporting from washington. >>> president obama talking about the fiscal cliff. in his first television interview since the election, that cliff, of course the combination of government spending cuts and tax increases that automatically go into effect on january 1st because people we elected to make a deal can't make a deal. yesterday, republicans proposed steep spending cuts but gave no ground on president obama's call to raise taxes on the wealthiest americans. here's what the president told bloomberg's white house correspondent about that. >> unfortunately the speaker's proposal right now is still out of balance. you know he talks, for example, about $800 billion worth of revenue but was he says he's going to do that by lowering rates. when you look at the platte it doesn't work. when i've said is, i am prepared to work with the speaker and democrats and republicans to go after excessive health care costs in our federal health care system, we're going to have to strengthen those systems and i think we can do that without hurting seniors, without hurting beneficiaries
republicanos parecen estar divididos sobre el proceso fiscal, para los recortes u aumento de impuestos y una advertencia del presidente, barack obama. >>> la comunidad latina en frep frepts una tasa de desempleo >>> millones de personas pueden perder su trabajo >>> el abismo fiscal provocarÍa un aumento dramÁticos de los impuestos una pareja latina con 2 hijos, ingresos anuales de 43 dÓlares pagarÍa mÁs, y verÍan el crÉdito tributario por hijo reducir de mil a 500 dÓlares >>> pero la resoluciÓn de demasia demÓcratas y corresponrepublicÁ paralizados. >>> seÑalÓ necesitamos que la casa blanca responda no podemos negociar solos la disputa es la misma, la ski sge exigencia del presidente porque se aumenten para los mÁs ricos. un tema que el senador marco rubio abordÓ durante un discurso donde esta polÉmica crea incertidumbre, para las compaÑÍas e inversionistas. >>> porque si uno aumenta el impuesto a estas pequeÑas compaÑÍas que el presidente trata de hacer el precio va a subir y le recortar horas a los trabajadores y esto tendrÁ un impacto de ves tarvastador >>> el presid
is happy to take the economy off the fiscal cliff, and again, if president obama wants to do that, he can do that, it sounds like that's exactly where he wants to go, and you know, what is kind of amazing, maybe republicans should take, you know, a victory lap from the fact that we've actually convinced democrats it's a good thing to maintain the bush tax cuts for at least 98% of the american population. i guess that's a good thing. i hope, i hope if president obama decides to increase taxes on the top two percent at a minimum he exempts business income. people or businesses that report their income through subchapter s, that would be a positive sign. maybe he can give some ground there. >> greta: i'm curious as a former businessman, now a freshman u.s. senator. is this what you thought the job was going to be like as a u.s. senator? >> well, obviously i was kind of hoping we would win in november 2012 here, and we'd actually have a majority in the senate and we could work toward pro growth tax reform. i realized what a mess washington is, and it's one of the things i really would ask the
at the white house with president obama to discuss, what else? the fiscal cliff. states would be severely impacted because much of their revenue comes from the federal government. cnn white house correspondent dan lothian is at the white house. so, dan, who is trying to convince who? >> well, i think it's a little bit of both here. you have the president trying to sort of put pressure on them, if you will, these governors, to then they in turn should put pressure ontheir lawmakers to get a deal done. at the time the governors are here to let the president know there's some real consequences if this scenario plays out. a third of states out there get their revenue from federal grants according to a pew report, and that report also points out that states like virginia, for example, would be heavily impacted. why virginia? because it has a lot of military defense contractors. they're saying that they could be impacted to the tune of about $10 billion in economic activity falling. in addition to that, 120,000 jobs lost. take a look at a state like south dakota, for example. a very small state
. >> eric: we are hurling toward the fiscal cliff. what does obama like to do? he spent the evening -- that is from 2011. he spent the evening at the kekennedy center hanging out with led zeppelin, robert plant, jimmy page. who else is there? dustin hoffman. stay in thous and get something done. >> dana: boon and crockett annual dinner, 125th anniversary. at the museum of natural history. you have to visit if you can. the project manager refurbished a ma ma'am exhibit and two-year project and it's spectacular. bob, you like the five and i said i would bring you to see it. amazing. you could learn a lot. greatest thing about the wildlife and sportsmanship. >> bob: let's hear more about greg's book. >> greg: a lovely woman i met on tour. this is rachel's mother. rachel was the chick-fil-a clerk who was harassed by that jerk. showed incredible
have to leave it there. president obama says no deal on the fiscal cliff. >> how does raising tax rates on the rich help the poor. that is what i don't get. true free market capitalism helps everybody. a rising tide lifts all boats. i'm laugrry kudlow we will be right back. two years ago, the people of bp made a commitment to the gulf. bp has paid over twenty-three billion dollars to help those affected and to cover cleanup costs. today, the beaches and gulf are open, and many areas are reporting their best tourism seasons in years. and bp's also committed to america. we support nearly 250,000 jobs and invest more here than anywhere else. we're working to fuel america for generations to come. our commitment has never been stronger. >> whow does taxing the rich hep the poor rise above poverty and get a job? let's talk to larry elder. he is the author of the great book, "dear father dear son". welcome back. how does taxing successful wealthy people help the poor get out of poverty. well for people who think like i think it doesn't make any sense. but understand something, that is not what
report." president obama goes before business leaders and says "we could get this done in a week" when it comes to the fiscal cliff. but tim geithner just told cnbc that we're going to go over the cliff unless tax rates go up. at the same time, two dozen republican house members signed a bipartisan letter with democrats defecting from the boehner plan. in the meantime, a nice game for the day for the dow, but a stunning selloff for apple. do you know what? fiscal cliff or not, the s&p 500 is up 12% year to date. that is a handsome gain for investors, an optimistic year, believe it or not. and we already bailed out detroit's auto industry. but now, at least one motown politician is telling president obama he should bail out detroit bankrupt city government, too. this sure isn't the free market, and i asked why should a texas taxpayer bail out detroit? >>> breaking news from syria, and it is a blockbuster. the assad regime is walking and loading its chemical weapons, ready to use them on its own people. nbc's chief pentagon correspondent joins us now. jim, is this the red line president
spending decreases if you go over the fiscal cliff than if you deal with president obama. >> greta: well, it appears to many in the city that it's politico check mate for the president. if we go over the fiscal cliff, what it means is the taxes will go up on the wealthy, the big earners. it also goes up on the middle class. i assume the middle class will look to the rawp republicans foe fact that their taxes come up so political check mate. >> i'm not so sure. president obama could avoid that very simply by putting maybe two or three to one expenditure reductions on the table for revenue increases, something like sim responsibl simpson bow. he has a formula given to him by a commission he appointed and heted that formula and presented to the republicans a program which was basically just a massive tax increase over and above the massive tax increase that's going to take place with the bush tax cuts expiring, so i don't see where there's -- he hasn't given them room to compromise. maybe if he had put his tax increases on the table and put up expenditure reductions of, you know, one and a
geithner saying the obama administration is absolutely ready to go over the fiscal cliff. >> what we got today was a assemble nar on hoaseminar on h. >> the vast majority of the media is on his side. no matter what he says, no matter what he does, even though what he's doing is outrageous, but his own party won't support him. >> the republicans have conceded the language. >> we could probably solve this in about a week. it's not that tough. >> it was week. >> president obama has said that he has pen in hand and he's prepared to sign the middle income tax cuts. >> you have a president of the united states that has the mighty pen. you bailed out the banks. bail out the american people that don't have homes for the holidays. >> in his second term i hope he will offer fresh ideas and serious leadership. >> we need a response from the white house. >> i'm hea here to tell you that nobody wants to get this done more than me. >> it's true that president obama won reelection and i congratulate him on his victory, but on january 20th, he'll face a stagnant economy and a fiscal mess. >> our people
13,000. and investors appeared optimistic after avoiding the fiscal cliff after president obama suggested that the deal could be reached in about a week. >>> the government issues a new warning today about those reverse mortgages. they are mortgages that give senior citizen homeowners an immediate cash payment in exchange for a future equity. today the obama administration will recommend that senoras be very careful before signing one. >>> star bucks is planning to open 1500 more cafes across the country over the next five years. averaging two new stores every day. that's america's money, i'm paula faris. >>> well, today many have been waiting for. the state of maryland begins issuing same sex marriage licenses today. we're live with more on this historic day. >>> on a mission for survivors, a man walks cross-country for those affected by the stroke. we're going to tell you where you can meet him today. >>> and one baltimore neighborhood could be getting a major makeover. the mayor will be on hand for a big announcement today. we're going to tell you what it is and if it is wher
>> this week on the journal editorial report, with the clock ticking, both sides dig in on fiscal negotiations and the president iic mum on spending cuts, how should republicans respond? and ahead of january's big tax hikes, companies and investors are cashing out. including one of president obama's biggest supporters. plus, as susan rice makes the rounds on capitol hill, we'll look at who could make up the national security team in president obama's second term. ♪ >> i am ready and able and willing and excited to go ahead and get this issue resolved in a bipartisan fashion so that american families, american businesses, have some certainty going into next year. >> i'm disappointed in where we are and i'm disappointed in what's happened over the last couple of weeks. the fiscal cliff is a serious business and i'm here seriously trying to resolve it and i would hope the white house would get serious as well. >> welcome tt colonel, editorial report, i'm paul gigot, not a meeting of the minds between president obama and house speaker john boehner where talks to end the fiscal show
.com/pricerewind. >>> today in his first interview since winning re-election, president obama talked about the fiscal cliff standoff. he put his foot down on what is negotiable and what is not. >> we have to say the rates on the top 2% go up. and we're not going to get a deal without it. understand the reason for that. it's not me being stubborn. it's not me being partisan. it's just a matter of math. i'm happy to entertain other ideas the republicans may present, but we are not going to cut our way to prosperity or cut our way out of the deficit problem we have. >> so, are we on the verge of something big, something that could really change our politics? joining me now, senator barbara boxer, democrat from california and whip of the senate. thank you for being on the show. >> i love being on your show. thank you. >> if the gop agrees to tax increases, how important might that be in terms of showing they actually are capable of working with the president? >> you know, the way they raised the question, if they agree to tax increases, they claim they're willing to do these loop-hole closers but the differenc
and throughout the country on the impending fiscal cliff. tonight on "special report," president obama visits a middle class family in virginia to emphasize the need for extending bush era tax cuts for all but the top 2%. republicans want to focus on spending cuts. the president is resisting. we'll explore that. one of the senate top conservative is leaving. south carolina tea party favorite jim demint is resigning. he will become the head of the hair tage foundation think tank. we'll talk to him live. new worries tonight about chemical weapons in syria. u.s. officials told foxyian officials -- syrian officials have loaded it on canisters to be dropped from above. on a lighter side why simpson is dancing like this to promote fiscal reform. "special report" from washington starts at 6:00 eastern now. back to new york and my colleagues with "the five." ♪ ♪ >> andrea: welcome back to "the five." well, you are looking live at the national christmas tree lightinger? washington, d.c. any minute, the president will be lighting the 48-foot spruce, that sits on the white house. and when he does, w
of their exchange. >> yesterday afternoon, i came to the floor and offered president obama's proposal on the fiscal cliff to show that neither he nor democrats in congress are acting in good faith in these negotiations. with just a few weeks ago before a potentially entirely avoidable blow to the economy, the president proposed a plan the members of his own party will even vote for. he is not interested in a balanced agreement, not particularly interested in avoiding the fiscal cliff, and clearly not interested at all in cutting any spending. with the president is really in, as we learned just yesterday, is getting as much taxpayer money as he can, first by raising taxes on small businesses who he believes are making too much money, and then on everybody else. not so he can lower the debt or the deficit, but so he can spend to his heart's content. for months, the president has been saying that all he wanted to raise taxes on the top 2% so he can tackle the debt and the deficit. however, yesterday, he finally revealed that that is not really is true intent. by demanding the power to raise the debt l
morning. thank you so much. in this country president obama says cutting a deal to avoid the fiscal cliff could to be done in a week but the president said that won't happen unless republicans drop their opposition to the wealthy. president obama visited a virginia family to move his cause. he maintained his hard line on tax increase. >> just to be clear i'm not going to sign any package that somehow prevents the top rates from going up for folks at the top 2%. but i do remain optimistic that we can get something done. >> congress and the president have until the end the year to avert automatic spending cuts and tax increase. take a quick break. when we come back on the morning news a preview of this morning's jobs report. what role did sandy play in hiring? ♪ [ male announcer ] with free package pickup from the u.s. postal service. visit usps.com. pay, print, and have it picked up for free before december 20h for delivery in time for the holidays. you can even give us special instructions on where to find it. free package pickup. from the u.s. postal service. because it's nice to have
on the fiscal cliff? >> guest: last week i said let obama have what he wants. republican member should vote present. maybe not even let him go off the cliff. let it go through and let barack obama have what he wants. people voted for it. we slide in recession and we say look, we had it their way. i think they are not carrying about the nation's future. right now, $136,000 household in debt. this is about getting re-elec re-elected. i want to say something quickly about the simpsons. it's dangerous to trivialize what is going on. simpson, if we go up the fiscal cliff simpsons are hit the hardest. the taxes go up 9,000%. writers of the simpson, the taxes will skyrocket. this isn't a joke. >> bob: you are right. but this is not going to happen. there is adjustment to social security. real cuts. >> eric: you know what -- >> bob: can i say something? >> eric: you add ornaments to add things. in obama added this little thing the other day. he said i don't want a debt ceiling or bound like it going for it. debt doesn't matter. >> bob: respond to the social security thing. >> eric: obama in october
. >> fiscal no. president obama and republicans in congress are digging in their heels on the fiscal cliff. who will blink first on this game of political chicken. we'll ask our power panel about that. and allison schwartz me as well. mitt romney licking his wounds over an election loss he thought would never happen. hats next for him and why he's not interested in hoping to remake the republican party. plus a bittersweet victory for the kansas city chiefs as the team and its fans try to come to grips with the senseless tragedy, what drove jovan belcher to kill his girlfriend and then himself. [ female announcer ] a classic meatloaf recipe from stouffer's starts with ground beef, unions, and peppers baked in a ketchup glaze with savory gravy and mashed russet potatoes. what makes stouffer's meatloaf best of all? that moment you enjoy it at home. stouffer's. let's fix dinner. now is a good time to think about your options. are you looking for a plan that really meets your needs and your budget? as you probably know, medicare only covers about 80% of your part b medical expenses. the rest is
nottingham in washington. coming up, president obama consults a group of the nation's governors on the "fiscal cliff." >> and well wishes are pouring in for will and kate as brits make bets on whether it will be a boy, girl, twins or triplets. >>> hi, i'm meteorologist lawrence karnow live at the whole foods market in cupertino. if you have been looking for a way to help people for the holidays, we have a great idea for you plus we'll talk about that rain coming back all that in just a few minutes. ,,,,,,,,,,,,,,,, typhoon in the philippines. 33 villagers wer >>> at least 74 people are dead or missing following a powerful typhoon in the philippines. >> 33 villagers all swept way after a massive wave hit their emergency shelter there. the storm brought in 160-mile- per-hour winds ashore toppling trees and causing widespread power outages. >>> syrian violence is deadly for schoolchildren. state media reports 29 students and a teacher were killed when a mortar slammed into their school outside damascus. the report blames terrorists a term the government uses for rebels. >>> this i
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